Financial Performance - The company's revenue for the year ended March 31, 2020, was approximately HKD 137,199,000, an increase of about 75.8% compared to HKD 78,064,000 in 2019[5] - The loss attributable to shareholders for the year was approximately HKD 529,070,000, a decrease of about 11.9% from HKD 600,252,000 in 2019[5] - The total revenue for the year increased by 75.8% to approximately HKD 137,199,000, primarily due to the growth in agricultural business and the absence of losses from financial asset sales[24] - The group reported a loss of approximately HKD 529,111,000, a reduction of about 12.5% from the previous year's loss of HKD 604,960,000[24] Property Investment - The total value of the investment properties was estimated at approximately HKD 1,155,100,000 as of March 31, 2020, down from HKD 1,282,094,000 in 2019[7] - Rental income from the property investment business was approximately HKD 47,831,000, accounting for 34.9% of total revenue, a decrease from HKD 53,249,000 in 2019[8] - The company recorded a loss of approximately HKD 40,337,000 in the property investment segment, compared to a profit of HKD 35,623,000 in 2019[8] - The group's investment properties were valued at approximately HKD 631,766,000 as of March 31, 2020, down from HKD 655,294,000 in the previous year[29] Hotel Operations - The average occupancy rate of the hotel property was approximately 62% for the year, down from 80% in 2019[10] - Revenue from the hotel business was approximately HKD 27,734,000, representing 20.2% of total revenue, a decrease from HKD 35,242,000 in 2019[12] - The hotel segment recorded a goodwill impairment loss of approximately HKD 45,738,000 due to the decline in recoverable amounts[12] - The hotel business in Shanghai has a building area of 15,997 square meters, contributing to the group's operations in China[99] Agricultural Business - The agricultural business in Bolivia had a total farmland area of approximately 17,500 hectares, with a book value of approximately HKD 371,962,000 as of March 31, 2020[14] - The group recorded revenue from agricultural operations of approximately HKD 61,634,000, representing a 28% increase compared to the previous year[15] - The number of cattle increased to 1,925, a growth of approximately 90% year-on-year, although the cattle business continues to incur losses[15] - The agricultural operations in Bolivia produced approximately 28,145,580 kilograms of crops during the reporting period, with a land area of 123,857,345 square meters[99] Financial Position - The group's cash and bank deposits as of March 31, 2020, were approximately HKD 16,188,000, down from HKD 79,975,000 the previous year[26] - The group's equity reached approximately HKD 1,989,547,000, a decrease from HKD 2,584,656,000 the previous year[26] - As of March 31, 2020, the total borrowings of the group amounted to approximately HKD 818,232,000, a decrease from HKD 893,906,000 as of March 31, 2019[27] - The group has a short-term repayment obligation of approximately HKD 675,594,000 due within one year, compared to HKD 888,158,000 in the previous year[27] Corporate Governance - The board emphasized the importance of corporate governance, adhering to the guidelines set forth by the Hong Kong Stock Exchange, ensuring transparency and accountability[49] - The company confirmed compliance with the securities trading code, with all directors adhering to the established standards throughout the fiscal year[54] - The board of directors held four meetings and one annual general meeting during the review year, with all executive directors attending 100% of the board meetings[59] - The company has three independent non-executive directors, all of whom have been confirmed to maintain their independence according to listing rules[66] Risk Management - The company has implemented a new risk management framework, which is expected to reduce operational risks by 30% over the next fiscal year[49] - The group has established a clear risk management framework to identify, assess, and manage significant risks, with operational units taking measures to mitigate risks during daily operations[87] - The external consultants have conducted an independent review of the group's risk management and internal control systems, with the report approved by the audit committee[89] Environmental, Social, and Governance (ESG) - The environmental, social, and governance (ESG) report covers the group's overall environmental and social performance across four key businesses during the reporting period from April 1, 2019, to March 31, 2020[99] - The total greenhouse gas emissions amounted to 5,823.47 tons of CO2 equivalent, with a density of 0.03 kg CO2 equivalent per square meter and 41.60 tons CO2 equivalent per employee[112] - The company is committed to sustainable development and will consider environmental impacts in future investment decisions[102] - The group has implemented energy efficiency measures, including the replacement of lighting with LED and encouraging guests to participate in energy-saving initiatives[134] Employee Engagement and Welfare - The group employed approximately 158 staff as of March 31, 2020, a slight decrease from 160 in the previous year[35] - The overall employee turnover rate during the reporting period was 26.7%, with turnover rates of 43.3% in Bolivia and 12.7% in China[157] - 71% of hotel employees received training, with 78% of male employees and 68% of female employees trained[168] - The company promotes equal opportunities in hiring, training, and promotions, ensuring no discrimination based on various factors[150] Community Engagement - The group is committed to community investment, supporting local communities through various initiatives, including donations from charity product sales[196] - The group donates 10 RMB for each charity product sold under the Holiday Inn Express brand to the IHG Foundation[196] - The group allocates 50% of the revenue from hotel coin-operated laundry facilities to the Hope Project, providing educational opportunities for impoverished children in rural China[196]

Financial Performance - The company reported revenue of HKD 69,882,000 for the six months ended September 30, 2019, compared to a revenue of HKD 1,995,000 for the same period in 2018, indicating a significant increase [8]. - The operating loss for the period was HKD 220,691,000, a decrease from an operating loss of HKD 490,932,000 in the previous year, reflecting an improvement in operational efficiency [8]. - The net loss attributable to the company's owners was HKD 267,616,000, compared to a net loss of HKD 496,217,000 in the prior year, showing a reduction in losses [8]. - The total comprehensive loss for the period was HKD 370,424,000, down from HKD 664,166,000 in the same period last year, indicating a positive trend [10]. - The company reported a basic and diluted loss per share of HKD 3.67, improved from HKD 8.16 in the previous year, reflecting better performance on a per-share basis [8]. - The company recorded a net loss of HKD 267,634,000 for the period [16]. - The group recorded a loss of approximately HKD 267,634,000, a reduction of about 46.1% compared to a loss of HKD 496,248,000 in the same period last year [156]. Financial Position - The total assets of the company as of September 30, 2019, were not detailed in the provided content, but the financial position should be monitored for future assessments [12]. - Non-current assets decreased from HKD 2,442,538 thousand to HKD 2,331,354 thousand, a decline of approximately 4.6% [14]. - Current assets decreased from HKD 1,246,511 thousand to HKD 921,994 thousand, a decrease of about 26% [14]. - Total assets decreased from HKD 3,689,049 thousand to HKD 3,253,348 thousand, representing a reduction of approximately 11.8% [14]. - Total liabilities decreased from HKD 1,104,393 thousand to HKD 1,039,116 thousand, a decrease of about 5.9% [14]. - Equity attributable to owners decreased from HKD 2,546,677 thousand to HKD 2,176,271 thousand, a decline of approximately 14.6% [14]. - The company’s total equity as of September 30, 2019, was HKD 2,214,232 thousand, down from HKD 2,584,656 thousand [14]. Cash Flow and Financing - The net cash generated from operating activities for the six months ended September 30, 2019, was HKD 376,905,000, an increase of 70.8% compared to HKD 220,734,000 in 2018 [23]. - Cash used in financing activities amounted to HKD 403,573,000, which is a significant increase from HKD 219,397,000 in the previous year [23]. - The cash and cash equivalents at the end of the reporting period decreased to HKD 21,705,000 from HKD 157,368,000 in the previous year, representing a decline of 86.2% [23]. - The company incurred interest payments of HKD 68,180,000, which is an increase from HKD 33,466,000 in the prior year [23]. - The total cash outflow from investing activities was HKD 16,199,000, compared to HKD 292,000 in the previous year [23]. - The company reported a decrease in cash and cash equivalents of HKD 42,867,000 for the period, contrasting with an increase of HKD 1,045,000 in the same period last year [23]. - The company’s cash and bank balances at the end of the reporting period were HKD 21,705,000, down from HKD 157,368,000 in the previous year [23]. Business Segments Performance - The agricultural business reported a significant increase in revenue to HKD 21,038,000 from HKD 398,000 in the previous year, although it still incurred a loss of HKD 5,175,000 [52]. - The hotel business generated revenue of HKD 17,348,000, down from HKD 19,700,000 in the same period of 2018, with a slight increase in profit to HKD 516,000 [52]. - The property investment business revenue decreased to HKD 31,496,000 from HKD 36,501,000, with a profit of HKD 1,805,000 [52]. - The financing and securities investment business showed a loss of HKD 201,743,000, an improvement from a loss of HKD 446,539,000 in the same period last year [52]. Investment and Assets - The fair value loss on investment properties amounted to HKD 21,111,000, compared to HKD 1,149,000 in the previous year, indicating increased volatility in property valuations [8]. - The total value of the group's investment properties was approximately HKD 1,191,244,000 as of September 30, 2019, down from HKD 1,282,094,000 as of March 31, 2019 [157]. - The group incurred a fair value loss of approximately HKD 191,953,000 on financial assets measured at fair value through profit or loss [156]. - The group recorded an unrealized investment loss of HKD 191,953,000 from its investment in Heilongjiang Guozhong Water Co., Ltd., with a share price decline from RMB 3.41 to RMB 2.65 [166]. Corporate Governance and Shareholder Information - No interim dividend was declared or proposed for the six months ended September 30, 2019, and no dividends were recommended by the board after the reporting period [86]. - Major shareholder Jiang Zhaobo holds 1,742,300,000 shares, representing 23.89% of the total shares [180]. - Ansheng Holdings Company Limited, fully owned by Shen Angang, holds 502,255,000 shares, representing 6.89% of the total shares [184]. - The board of directors has complied with the corporate governance code during the review period, with some deviations noted [193]. - The chairman, Jiang Zhaobo, did not attend the 2019 annual general meeting due to other commitments [194]. - The board of directors has confirmed compliance with the standards set forth in the Listing Rules Appendix 10 regarding securities trading throughout the reporting period [195].

Financial Performance - The group's revenue for the year ended March 31, 2019, was approximately HKD 138,789,000, representing a 54.4% increase from HKD 89,912,000 in 2018[6] - The net loss for the year was approximately HKD 604,960,000, a decrease from HKD 775,873,000 in 2018, primarily due to a 21.7% reduction in unrealized fair value losses on financial assets[6] - Basic and diluted loss per share was HKD 0.08993, compared to HKD 0.12763 in 2018[7] - Agricultural business revenue for the year was approximately HKD 48,168,000, a significant increase from HKD 471,000 in 2018, with a segment profit of approximately HKD 15,125,000 compared to a loss of HKD 2,404,000 in 2018[5] - The hotel segment recorded revenue of approximately HKD 35,242,000, down from HKD 39,072,000 in 2018, mainly due to a slight decline in average room rates[14] Investment and Assets - The group's investment properties had a total estimated value of approximately HKD 1,282,094,000 as of March 31, 2019, down from HKD 1,347,788,000 in 2018[9] - The total value of securities investments was approximately HKD 911,924,000, a decrease from HKD 1,393,232,000 in 2018, representing 35.3% of the group's net assets[20] - The group confirmed a loss of approximately HKD 93,216,000 related to impairment of mining rights, with the carrying value of mining rights as of March 31, 2019, being approximately HKD 178,664,000[28] - As of March 31, 2019, the group had investment properties valued at approximately HKD 655,294,000 and hotel properties valued at approximately HKD 485,235,000 pledged as collateral for liabilities[35] Cash Flow and Borrowings - The group’s cash and bank deposits as of March 31, 2019, were approximately HKD 79,975,000, down from HKD 179,712,000 in 2018[32] - As of March 31, 2019, the total borrowings of the group amounted to approximately HKD 893,906,000, with HKD 888,158,000 due within one year[33] - The company issued 1,215,700,000 shares at a price of HKD 0.143 per share, raising approximately HKD 173,845,000, with 94% allocated for repaying other borrowings[34] Market Outlook and Strategy - The group expects to closely monitor the property market conditions and prudently seize any opportunities in this segment[11] - The group anticipates that the hotel segment will continue to provide stable income and potential capital gains[15] - Future outlook indicates a focus on reviewing and restructuring existing business segments to maintain competitiveness amid an unstable economic environment[30] Corporate Governance - The management emphasized the importance of maintaining strong corporate governance practices, adhering to the guidelines set forth by the Hong Kong Stock Exchange[65] - The board consists of seven directors, including four executive directors and three independent non-executive directors[72] - The company aims to enhance shareholder value through improved transparency and accountability in its operations and decision-making processes[64] - The company has adopted a board diversity policy to ensure a balanced skill set and experience among board members, considering various factors such as gender, age, and professional experience[102] Environmental Sustainability - The total greenhouse gas emissions for the reporting period amounted to 1,275.07 tons of CO2 equivalent, with an annual emission density of 0.079 tons of CO2 equivalent per square meter[139] - The company implemented the IHG Green Program and achieved Level 1 certification, improving lighting efficiency[142] - The company has established guidelines for waste recycling and encourages the separation of waste, including food waste collection by Hai Jie Environmental Company[148] - The group has implemented energy efficiency measures, tracking energy usage monthly to identify savings opportunities and set reduction targets[157] Employee Management - The group employed approximately 160 staff as of March 31, 2019, an increase from 120 staff in the previous year[43] - The employee turnover rate for the group was 0% during the reporting period, indicating strong employee retention[168] - The total number of trained employees reached 56, with a total of 1,020 training hours provided[187] - 100% of middle management employees received training, while 77% of frontline and other employees participated[187] Risk Management - The company has established a clear risk management framework to identify, assess, and manage significant risks, ensuring effective operations and compliance with applicable laws and regulations[111] - An external consultant was hired to conduct an independent review of the company's risk management and internal control systems, which was approved by the audit committee[114] - The audit committee is responsible for ensuring compliance with statutory and listing requirements, and it has the authority to appoint independent legal or other advisors when necessary[103]